EC compiling details of electoral bonds shared by parties, to submit to SC

The Election Commission is in the process of compiling details of electoral bonds shared by various political parties, including the BJP and the Congress, before submitting them to the Supreme Court in a sealed cover, a poll panel functionary said on Thursday.

On November 3, the EC had asked "all such parties" that have ever got any donation through electoral bonds to furnish by November 15 the details of such contributions received by them since the inception of the scheme.

It had also sent a reminder to the parties on the issue.

The EC's move came after the Supreme Court directed the poll panel on November 2 to produce before it in a sealed cover the "up to date" data of funds received by political parties through electoral bonds till September 30, 2023.

 

"The details are being compiled. Several parties have shared details," the EC functionary said.

Major political parties, including the BJP and the Congress, have submitted the details to the EC.

In a letter to heads of all political parties on November 3, the EC had also asked them to share detailed particulars of the donors against each bond, the amount of each bond and the full particulars of the credit received against each bond in a sealed cover.

The EC's letter said particulars should be sent in a double sealed cover -- one duly sealed envelope containing the particulars and a second duly sealed envelope containing the first envelope -- to its secretary of the election expenditure division.

The commission said the sealed covers should reach it latest by November 15 evening. It also said the envelopes should be clearly marked as "confidential-electoral bonds".

While passing its order on November 2, the apex court had said, "This exercise shall be carried out on or before November 19, 2023. Data in a sealed packet shall be handed over to the Registrar (Judicial) of this court."

The electoral bonds scheme, which was notified by the government on January 2, 2018, was pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding.

According to the provisions of the scheme, electoral bonds may be purchased by any citizen of India or entity incorporated or established in the country. An individual can buy electoral bonds, either singly or jointly with other individuals.

Only political parties registered under Section 29A of the Representation of the People Act, 1951 and which secured not less than one per cent of the votes polled in the last Lok Sabha or state legislative assembly election are eligible to receive electoral bonds.

According to the scheme, electoral bonds shall be encashed by an eligible political party only through an account with an authorised bank.